Jobless claims stay below 200,000 for fifth straight week. Labor market still hot
The numbers: The number of Americans who applied for unemployment benefits in stayed below 200,000 for the fifth week in a row, signaling the U.S. labor market is still quite strong.
New applications slipped from to 194,000 from a revised 195,000 in the prior week, the government said Thursday. Read: U.S. jobs market looks great, but layoffs at Google, Amazon and other big firms tell a different story The number of people already collecting unemployment benefits, meanwhile, rose by 16,000 to a three-month high of 1.7 million in the week ending Feb. 4. They are reported with a one-week lag.
Yet hiring is bound to slow and layoffs rise, economists say, as higher interest rates mounted by the Federal Reserve depress economic growth. The Fed is raising rates to try to quell high inflation.
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